Businesses Invited to April 2 Launch of New Latino Chamber of Commerce

FDIC's Mooney to be among guest speakers addressing critical role Latino businesses are playing in region's economic recovery.

By EGP News Service

The significant role small and Latino owned businesses play in the local and national economy will be discussed as part of the official launch of a new Latino chamber of commerce taking place April 2 at The New Los Angeles Theater Company (LATC) in Downtown Los Angeles.

Responding to the tremendous toll the down economy has had across the country, the Latino Business Chamber of Greater Los Angeles (LBC-GLA) has announced it will be joined at the launch— open to interested businesses — by Robert Mooney, Senior Advisor to FDIC Chairwoman Sheila C. Bair and Beth Castro, Director of Community Development at the Office of the Comptroller of the Currency (OCC), and Los Angeles Mayor Antonio Villaraigosa. Other prominent business and community leaders are scheduled to attend, according to the business group.

"Even in a sluggish economy, Latino businesses have continued to provide jobs and fuel the local economy," said Jorge Corralejo, Chairman and CEO of the LBC-GLA. "We have been spending time in Washington D.C., Sacramento and the five counties that make up the greater Los Angeles region, reminding those attempting to engineer the country's economic recovery, that they'd be well advised to make sure they are taking steps to include these same businesses in economic recovery plans, and with economic resources to build on," he said.

The Latino Business Chamber of Greater Los Angeles boasts a who's who of business owners and executives among its membership and on its board of directors.

"We have brought together an impressive group of well-seasoned business leaders who are dedicated to stimulating economic growth not only in the Latino business sector, but the business community as a whole," said Corralejo. "They are interested in developing new technologies and providing small businesses with the best business tools available to help them prosper. If these businesses grow and prosper, so will the Latino and greater Los Angeles community," he said.

The LBC-GLA is a 501(c)3 and (c)6 non-profit, non-partisan organization with a mission to produce necessary economic structures and policy initiatives for empowering Latino businesses, developing economic growth and fostering opportunities in the Latino business community, said the group in a written statement announcing next week's launch. The chamber will aim to advocate for the Latino business community and to provide resources such as technical assistance, lending and procurement, educational and advocacy resources.

The chamber is open to all businesses and interested parties are invited to attend the launch and reception.

At the event, LBC-GLA Chairman and CEO Jorge Corralejo will speak on the purpose, mission and vision for this newly formed chamber. Robert Mooney will address FDIC policies with regards to small business and the FDIC's commitment to minority businesses. Beth Castro will address the expansion of CRA legislation and small/minority business lending. Mayor Villaraigosa will address the significance small businesses play in the recovery and creation of local economic opportunities.

The event will take place April 2, from 1:00 p.m. to 3 p.m. at the New Los Angeles Theater Company (LATC), located at 514 South Spring Street, Los Angeles, CA 90013. For more information about LBC-GLA call (213) 347-0008. The chamber's website is under construction but will be www.LatinoBusinessChamber.com once it is finalized.

Eastern Group Publications Associate Publisher/Chief Operating Officer Jonathan Sanchez is a board member of the LBC-GLA.